The original deal where SBM were buying GMD was a joke. SBM were buying a company with nil gold reserve and GMD were getting the lions share.
I think the leaked emails show that SLR were fobbed but I do agree they could have been more insistent.
No shareholder knew that just Gwalia was for sale and It's not just Gwalia it's all SBM assets in the Leonora area, mines processing plant and infrastructure. 8o something years of gold and more to be discovered. Shareholders do not want to sell the Leonora assets and dilution through a CR would be better than selling it.
Replace the board and trade out of it if it comes to that, but I think there is more to play out here, SLR are not going to drop off just like that.
SBM Price at posting:
55.5¢ Sentiment: Hold Disclosure: Held
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